XAUUSD bearish, here is full analysisGoldOANDA:XAUUSDForexWizard01Fundamental Analysis Gold remains under fundamental pressure following stronger-than-expected US inflation data, which has reinforced expectations of further Federal Reserve tightening. A stronger US dollar and rising Treasury yields continue to reduce demand for non-yielding assets such as gold. Although Friday's PPI data offered some relief, the broader macroeconomic environment remains unfavourable for a sustained recovery. Geopolitical tensions involving Iran provide some safe-haven support, but their inflationary impact may indirectly benefit the US dollar and weigh on gold. Overall, the fundamental outlook remains bearish in the short term. Technical Analysis On the 1-hour timeframe, XAUUSD maintains a strong bearish trend, with price trading below its 20 and 10 EMAs. indicating weak bullish momentumsupport is positioned around 3,873–3,852, with further downside potential towards 3,821 and 3,800. A rejection from resistance could trigger another bearish move, whereas a sustained hourly close above 3,929 would indicate improving short-term momentum. Sentiment Analysis Market sentiment remains predominantly bearish, as traders continue to favour the US dollar amid expectations of tighter Federal Reserve policy. Recent selling pressure and gold's failure to sustain a recovery above $4,000 reflect reduced short-term buying confidence. However, the sharp decline towards $3,852 has increased the possibility of short-covering and bargain-hunting, potentially creating temporary bullish movements. Longer-term central bank demand continues to provide underlying support. Overall, sentiment favours selling into corrective rallies until stronger evidence of a bullish market-structure reversal emerges.